New Zealand’s benchmark S&P/NZX 50 index edged up 0.1% to close at 13,425 on Tuesday, extending a rangebound session ahead of a busy week. Traders are awaiting a series of data releases, including Q3 GDP on Thursday, which is expected to show a rebound. Meanwhile, New Zealand’s annual food inflation eased to 4.4% in November, down from 4.7% in October. The half-year budget update from the New Zealand government showed a slightly larger deficit for the current financial year, with a return to surplus not expected in the next five years. Among individual stocks, Meridian Energy rose 2.6%, marking its strongest session in more than two months, driven by robust November retail sales. Other notable gainers included A2 Milk (+2.8%), Delegat Group (+3.1%), Spark (+2.2%), and Ventia Group (+2.5%). These gains were nearly offset by sharp losses from Third Age (-4.2%), Gentrack (-3.5%), Hallenstein Glasson (-2.9%), and Tourism Holdings (-2.8%).
